Al Murjan Group and BlueFive Capital Launch Sharia-compliant Asset Management Investment Platform
- Transaction involves BlueFive acquiring a stake in Sidra Capital, and Al Murjan group acquiring a stake in BlueFive Capital Singapore-based Sharia-compliant investment platform, BlueFive 786.
- Aim is to become the leading global name in Sharia-compliant alternative investment products targeting institutional and retail investors, primarily in the populous predominantly Muslim nations in Southeast Asia and the GCC.
- Bluefive will support Sidra Capital in its asset allocation and Investment mandate.
Al Murjan Group, one of Saudi Arabia’s most established and respected family business groups, and BlueFive Capital, a global investment platform, are pleased to announce a cross shareholding strategic linkup to co-develop a global platform for Islamic finance.
The partnership includes reciprocal ownership stake in the two stakeholders’ respective Sharia-compliant asset management units: BlueFive acquiring a substantial minority stake in Sidra Capital, a leading Shariah-compliant asset manager that specializes in private assets, and Al Murjan Group Holding acquiring a substantial minority stake in BlueFive786, BlueFive’s newly launched Shariah-compliant investment arm. BlueFive786, which will be headquartered in Singapore, aims to offer Sharia-compliant investment products, such as retirement and saving schemes to its savers and retirees, based predominantly in the Southeast Asian countries of Indonesia, Malaysia, Bangladesh, Brunei and Singapore. As part of the deal, BlueFive will open its office in Riyadh and becoming active, jointly alongside Sidra Capital, in managing and undertaking investments in the Kingdom Of Saudi Arabia.
The deal will provide both parties with enhanced access to cross-border investment opportunities and institutional capital. This partnership will also support joint product development and co-branded investment vehicles, enabling institutional and private clients to access best-in-class Islamic investment strategies. The parties are currently awaiting the final approvals of the relevant regulatory authorities in Saudi Arabia.
As part of the transaction, BlueFive Capital founder and chief executive Hazem Ben-Gacem, and BlueFive co-Founder Yasser Bajsair will join the board of directors of Sidra Capital. Taufiq Bahamdain CEO Of Al Murjan Group Holding and Shahid Shaikh – a board member in Al Murjan Group will represent Al Murjan in the board of BlueFive 786.
Taufiq Bahamdain, CEO of Al Murjan Group and board member at Sidra Capital, said:
“This strategic alignment with BlueFive Capital builds upon Sidra Capital’s decades of experience in Islamic Finance, taking its mission to become a globally recognized leader in Sharia-compliant finance to the next level. By combining Sidra Capital’s established expertise and deep roots in the GCC with BlueFive’s innovative platform and access to Southeast Asia’s dynamic markets, we are creating a powerful conduit for cross-border ethical investments. This partnership is built on a shared commitment to delivering performance, expanding access to sophisticated, values-driven investment markets for a global clientele.”
Hazem Ben-Gacem, Founder and Chief Executive of BlueFive Capital, said:
“Grateful for the trust of Sheikh Abdulrahman Bin Mahfouz and look forward to joint with AlMurjan building a lasting legacy in the field of Sharia-compliant investing. Joint with Sidra Capital, will look to redefine and shape the products and solutions that are today available across Muslim-majority growth markets.”
About Al Murjan Group
Al Murjan Group is a multibillion-dollar global conglomerate. Originating in Saudi Arabia, the company’s operations span multiple economic sectors and include financial investments, 100% owned business units, minority owned investments, income generating real estate assets and private equity investments.
For more information, please visit www.almurjan.com
About Sidra Capital
Sidra Capital, founded in 2009 and headquartered in Jeddah, has $3.6 billion AUM and operates out of additional offices in Riyadh, Dubai, London, and Singapore. The firm offers a full suite of Shariah-compliant asset management and advisory services and is regulated by the Saudi Capital Market Authority, the Dubai Financial Services Authority, and the Monetary Authority of Singapore.
For more information, please visit www.sidracapital.com
About BlueFive Capital
BlueFive Capital is a global investment platform that today has $2.6 billion in AUM and targets opportunities in high-growth economies with the goal of transforming traditional financial models and fostering sustainable growth. Incorporated in Abu Dhabi Global Market and with offices in London, Manama, Abu Dhabi, Dubai and Beijing, the firm provides strategic exposure to sectors that will define the next generation of economic prosperity through consolidating parts of the financial services industry across insurance, private wealth and public markets.
BlueFive Capital was founded in late 2024 and is led by Hazem Ben-Gacem, one of the longest tenured professionals in the global private equity landscape.
About BlueFive786
BlueFive 786 aims to be a leading alternative asset manager for Shariah-compliant financial instruments globally. Headquartered in Singapore, BlueFive 786 connects the high-growth and populous Islamic markets of the GCC and Southeast Asia with Shariah-compliant investment offerings that bring attractive returns, including annuity and fixed income products; private equity, real estate and infrastructure; and from the management of waqf and trade finance funds.
For more information, please visit www.bluefivecapital.com
